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with an exclusive look at their latest cfo survey. how are cfos planning what washington can decide? liz: state across the country must decide today who will be setting of the mandatory health insurance exchange required by the health care act. the decision could have a big impact on your coverage and the prices you will pay and maybe insurance stocks. we will break down the numbers for you straight ahead. [ male announcer ] this is amy. amy likes to invest in the market. she also likes to ride her bike. she knows the potential for making or losing money can pop up anytime. th's why she trades with the leader in mobile trading. so she's always ready to take action, no matter how wily.. or weird... or wonderfully the market's behaving... which isn't rocket science. it's just common sense. from td ameritrade. but with advair, i'm breathing better. so now i can be in the scene. advair is clinically proven to help significantly improve lung function. unlike most copd medications, advair contains both an anti-inflammatory and a long-acting bronchodilator working together to help improve your lung fu
is more affected by what happens in washington financial sector directly affected by the fed, by tax policy, etc., the financials had a turnaround as well. i think they are still generally negative. the dow is now negative, but just by a couple ticks. again the turnaround is story. financials in general today, tell us how they did. nicole: the one i would talk about that really represents what went on with the financials is bank of america. bank of america hit a 52 week high, sold off, was like a number one loser in if the dow, number two loser in the dow and then moved back and came up off the lows. so it shows you the financials really drive the market one way or another. you really get a good feel. david: bank of america is up over 100% this year even with today's loss. it has incredible turnaround. [closing bell ringing] shibani: the bells are ringing on wall street. it was a roller coaster ride of a day. let's take a look at how stocks are finishing up. it's well on the fence here as to where we're going to close. the dow is lower right now. down about 20 points. the s&p 500 dow
a double whammy if we go over the cliff. what compromises he'd love to see come out of washington, and how he believes they could reach them. this is a guy who deals with the democratic senate, so, really, he knows how to cross the aisle to make it happen. david: somebody else you know about, with all the talk about tax increases, the idea of a simple flat tax dead? we'll see. forbes doesn't think so. there's a news conference along with washington lawmakers to push for the flat tax. he joins us later this hour. liz: first, what drove the marketings for today's data download. stocks ending lower, struggling for direction most of the day, unable to hold gains trading lower. i think it was 79 times. health care and industrials were today's top performing sectors and telecomo lagged. the euro extending the gains versus the dollar, rallying to a near seven week high against the green back after greece announced its debt buy back terms. euro rose to a $1131. that's high historically. action in the metals. silver, platinum, all sinking more than 1%. silver was today's biggest loser dropping near
due to preparation from washington. she is a daily deal sites are falling today. let's go back to nicole at the new york stock exchange for more. nicole: we're taking a look at group on down 4% today, still under pressure after they made an acquisition. $4.63 per share, they have acquired commerce interface. the company which they have been working since the middle of 2012, april 2012 in order to streamline some of the operations. it is technology management, a way they can work with some of the thousands of existing vendors, supposedly will help them to better support the merchants overseas going forward and give them exclusivity with this particular company but this acquisition today puts them under pressure about 4% and that is why you're seeing it down about $0.19. merry christmas, everybody. david: ilog one of my groupon things to expire. it is not a total loss. lori: it is not front and center in people's priority list. david: s&p futures are closed right now. that's about to larry at the cme to see how things might work out during christmas time. what do you think, larry
or may not come out of washington? >> well, thanks. i think the reality is we're going to go over the cliff. the only issue is how long do we stay over the cliff? if it's 60 days, 90 days, that's a big problem for the economy, for the market, and i think you want to raise cash. i recommend starting with a cash weight of at least 10% and go up 2.5% each week, depending on whether or not they can come to agreement. i mean, i think ultimately it probably will come to agreement, but let's face it, obama's not going to get inaugust -- inaugurated until the 21st, and boehner thinks the real deadline is february or early march. that's a time frame to look for, and the reality is if you look at the markets over the last while, they are correlated between the commodity markets, oil, bonds, stocks, and that has not been the case for many, many years, and so it's really one trade. there's a macro trade. what's going on in the u.s. with the fiscal cliff, and before that, it was all about europe. david: larry, your picks, disney and direct tv, i know you like the vegas stocks, las vegas sans,
, they're going to make a deal in washington. i lived inside the beltway, have a pretty good network inside the beltway. cantor is worried -- excuse me, not cantor, boehner is worried about not being reelected as speaker of the house. they can't vote on that until january 4th with the new congress on that. cantor wants that job. so i think boehner's going to press for a deal, i think he's going to go ahead and allow president obama to raise taxes to 39.6%, and i think that'll take the edge off the fiscal cliff. david: let's take this discussion out of the beltway and into the real world. the economy, and, jeff, i want to start with you because you're bullish, but if you're so bullish, hy are you downgrading housing right now? >> because our housing team made a really good call on the housing stocks, and they outran their valuations on a short to intermediate-term basis. they downgraded them about two months ago. liz: okay, so where's the money? show it to us. >> i like just about everything except consumer staples. i think industrials look good, i think they are the new consumer sta
the fiscal cliff. rich edson reporting from washington. thank you very much. liz: david, the news changes, and day-to-day, breaking news now, adam on dish. >> yeah, move over verizon, at&t, with the dish of dish if you want a new cell phone company. three of five fcc commissioners approved a rule change as of today, and it would allow support for the dish speck rum rule change for a wireless network. dish could then, perhaps, as sale at capacity for the u.s. market so the fcc, looks as if is clearing the way for dish. back to you. david: boy, a more ever-crowded market in the cell field. competition is good for consumers, not a bad thing. thank you very much. liz: washington, still, as you know, not coming to a solution on the fiscal cliff with the clock ticking louder than ever. coming up, we are joined exclusively by the former treasury secretary paul o'kneel and how he would solve the crisis. david: big labor taking a big hit, right it work bills sent to the governor's desk who is joining us live after the break. ♪ ins. i didn't see them coming. i have obligations. cute obligatis, bu
indices over the past 52 weeks as the bells ring on wall street, minds on both washington and the rally on your screen 170 points for the dow jones industrials. and look at the 2% gain for the nasdaq, even better for the russell 2000. david: okay. i'm guessing now, unless the producer tells me otherwise, we are ending at the day's highs or very chose to it on both the nasdaq and the dow. gold also shining today and, of course, for the year. for the session gold gained almost $20 to end the year at $675 an ounce. the commodity $-- 1675 an ounce. this is the 12th consecutive yearly rise for gold. it was, however, the smallest yearly gain since 2008. liz: look at silver. silver a big story today, ending in the between for 2012 as well. the commodity gaining 8.3% over the past 52 weeks finishing at $30.23 an ounce. david: now, on the other hand, not all commodities did well. oil did not have such a stellar year. today, of course, crude rallied 1.1% settling at $91.82 a barrel, but for the year oil fell 7.1%, about $7. liz: some of the best performing exchange-traded funds, they're very popu
and washington. do you see companies perhaps getting a special tax holiday and bringing back those billions and billions of dollars parked overseas back to the u.s.? >> yes. i hope we have. we think there are people advising this administration and the way to get the economy is the way to repatriate that cash that is trapped overseas. you could reduce tax rates for a1 times special holiday. instead of the marginal tax numbering your money back from europe being 30% you might make it 10%. a lot of money would come back to the u.s. and it would be good for the economy. dave: don't mean to pouu water and your idea because i agree with you it would be a great idea to have a tax holiday we have it ministrations people want from the chief economic adviser of the president on down with the administration and they say no way they are going to do this. would give the any optimism it might be done? >> people need revenue. this is positive for revenue. the money sits over cease and the u.s. treasury gets none of it. if you declare this tax holiday the money produces revenue in nd the u.s.. the change
saying they're holding on until certainty comes out of the washington area. we found one company growing strong planning for a solid 10% increase in growth in the new year. joining us now in a fox business exclusive, the executive vice president at obe are. g industries. first of all, rich, 10% growth, what makes you so bullish that you're going to meet that target? >> you know we're linked to a couple very encouraging markets. one being the energy market, the medical market and the aerospace market. these markets are all looking for precision machine parts, that is something that we're very good at. we just see a strong demand. we've had a good demand in 2012 and we actually and we see more growth in 2013. david: you put a lot of money in on-the-job training. how has that paid off for you? >> we're probably the first to have a state certified apprenticeship program in pennsylvania. we currently have probably 25 guys, young people in the program. and that is helped us in down times. we have continued to invest in our people and in our equipment and that's helped us be prepared prepared f
is unserious. this is washington, back to you. liz: we have a lower third banner that says we can probably solve this in a week according to the president. >> if he said if republicans relent on raising tax rates on $250,000 per year. david: always the question of if you'll take over the power, rich edson is they're following it all for us. coming up, more on what is happening in washington, the chief number cruncher on the heritage foundation here to tell us why they're increasing taxes 25%. liz: pandora shareholders may be singing the blues after the stock plummeted 20% at one point today after beating earnings estimates but admitting it will swing to a loss. ask any internet radio pioneer and ceo joe kennedy why he is whistling a much better tune despite that. next. liz: to remember yesterday pandora got smacked in the after-hours. not singing a great tune and all, humbled 17% following the earnings release while most numbers came in above analyst estimates it was a guidance well below what many were hoping for. the stock suffered a number of price talks, but did not get a lot of downgr
for jpmorgan here in washington. senator carl levin, one of wall street's toughest critics, criticized the bank in may when it announced the loss saying, quote: it made a very big and complicated bet that now has gone very wrong. the senator's office did not immediately respond to our requests for comment on details of his subcommittee's probe, and the bank has declined to comment. but all of this could mean headaches for jamie dimon, the ceo of the bank. just ask goldman sachs' ceo lloyd blankfein who left have you been ripped -- levin ripped at a hearing in 2010. >> peter, this could be a big setback considering that the company announced it plans on buying back $3 billion worth of the company's sock -- stock in the new year. and you really wonder if this is going to be a step backwards even though we were starting to see signs of healing. >> what this means is this problem is not just going to go away for jpmorgan. it has this subcommittee looking at it up on capitol hill. jamie dimon testified at two hearings about it in june, and, of course, the regulators, the sec, the cftc, they also con
of washington. the news wasn't great but it wasn't we are so far away, we won't do anything until january. the news was more of the same. at the end of the day buyers stepped in, volatility continued to rise, the vix futures rose, coming off of a low-level, these investors stole the marketplace as well they should buy protection. ashley: thank you, we will check in with you in a few minutes to see how the is in the futures close. liz: and investment council chief investment strategist, fifth third bank chief -- on a day like today a few more trading days in the year. i want to start with robert here, pretty bullish. to what do you ascribe that? we had a very indecisive day until the last couple minutes. >> i don't think about and on the trading day. the mathematics look great in the market with 5% real earnings yield against the bond market that is so overvalued that it is hard mathematically not to be bullish about this long term. liz: what do you mean by that? >> if you look at the valuation of common stocks, we can talk about dividend yields relative to the bond market but if you just
in equity markets because of what is going on in washington and of course a whole variety of other factors involved but the fiscal cliff conversation is kind of a watch and see. there is nothing new the horizon. the calendar is running against them, but that does not mean anything will actually get accomplished. liz: peter can't mak, make yourn what to buy. does not matter there is all this uncertainty, there's always a trade, always a play. make the case for why. >> the fed is supporting risk and the metals have had a great day today. frankly i love precious metals. that's a much industrial metals does we will be in for a tough play. especially december closing out in a negative despite the year-to-date performance which has the nasdaq you have to be all up very handsomely. in december closes to bee3 negative for the month due to effect next year is the first yeer in the presidential four year term we could have some very stiff headway. liz: you se said a metals did it beautifully. hold up half a percent for gold futures, high-grade up about a percent. decent data out of china. define bea
with mark at the cme. we were careen, and the mouthpieces in washington spoke and it fell. something else at work here 1234 >> you know, i think it's a lot of things. i think, you know, is qe ad good thing for the marked? the fed came in strong, but i don't think that's cause for the market. we were testing that level, kind of, i think, a hard tactical barrier. we need a catalyst to breakthrough it. john boehner says something negative -- david: mark, i have to interrupt. we have the numbers from adobe. bringing it to you first. adam going through the numbers. what are they, adam? >> investors happy beating what was expected of revenue on 1 #.5 billion. inviers wonder how they went to charge in the cloud going to impact and looks they are doing well. back to you. >> by the way, we have the after hour numbers for you, and as you can see, says zero. there's a lot of traders who want to trade afterhours, but trades halted. as soon as they are lifted, we'll tell you, mark sebastian with adobe, interesting they hold shares on good news, mark. >> you know, when they know the news is the type of
never know what will come out of washington. the twenty-seventh is when we will hear something but the uptick we saw on the close, also induce a triple witch which is the futures expiration for december. other than that light volume, we have some potentially big market moving news and whatever happens in washington and who knows? liz: will be a big holiday week for the markets. dave: thank you. liz: can never take a break. shares of under are rising today. one of the few retailers that has done pretty well. let's head to nicole petallides on the floor of the stock exchange. nicole: 3-1/3% for under armor. this is a clear winner when you talk about vince in people where, under armour is doing well because nike came out and nike reported strong sales, athletic apparel is hot and under armour is one of the beneficiaries of that. when you talk about nike, bring it close, up 6% so nike was a real winner and they talk about demand going forward topping estimates so obviously both nike and under armour, a great day on a day when we saw a lot of selling. dave: have a good weekend. repu
the holidays. we have all the details coming straight ahead.  david: president obama came back to washington to push for tax hikes the republicans have been resisting but with five days to go, if the president' being givn the right advice on how badly the game of chicken could end up being for all of us if we go off the cliff? joining us now, senior fellow at the manhattan institute and he used to work at the council of economic advisors and advise the president of what his actions could do to affect the economy. it could potentially lead to a recession. >> i am sure showing him the forecast that unemployment would rise above 9% if we went off the fiscal cliff, gdp growth would lose a percentage point. the consequences are very dire. how do you avoid that happening? david: it is kind of surprising that you mak my goodness from hs economic advisors. wells is advising him of what to do from an economic perspective? >> presidents don' presidents dt their economies. if they did, everything would be fine. listen these political types and the political types that you got to have tax hikes on the r
. david: nick, words are cheap, particularly in washington. so are promises for that matter inside the beltway but did you get any specific promises people would hold the line on dividend taxes at least by some amount? >> i think we did get an indication, first of all, we're in tune with the issue of parity between capital gains and dividend taxes. they understood that. understood it as a concept going into the discussions. from an increase perspective they did understand it would have impact on economy, would have impact on our rates. but i think there is a sense of frustration there is a whole big issue to deal with here and comprehensive deal and they really don't know exactly where it is going to come out but there was optimism it would be something, less than ordinary income. david: good luck. let's hope you made progress. nick, pat, thank you both for coming in. >> thank you, david. >> thank you. liz: investors have been looking at different ways to hedge against inflation. many have been adding hard assets to their portfolio. david: that includes wine vineyards. robert gray
. washington even during that speed read is still trying to find some type of solution to avoid the potential tax hikes and spending cuts set to hit at the end of this year. so look, taxes are coming april 15th. how can you the taxpayer prepare for whatever type of decision comes out of the beltway? joining me now is john hewitt, yes, of course from the former jackson hewitt. he's chairman and ceo now of liberty tax, one of the largest tax preparation businesses. oh, boy, a lot of people want to hear from you because perhaps there's a low-grade panic going on in their hearts and minds right now,,thinking what should i be doing in advance to limit my tax bill that i might get? can you even know when we don't know the landscape? >> it's hard to tell. and it's the most confusing it's been in my 43 year career. there are certain things we can do and certain situations. you need to check with your tax advisor. we eastbound p help people -- we even help people that aren't our customers so you can call and give you advice for your particular situation. liz: let's break out the most common situations
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